India's GDP in Q3 shows growth of 0.4%, shows govt data | Editorji
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India exits recession, GDP in Q3 shows 0.4% growth

Feb 26, 2021 19:02 IST | By Editorji News Desk

After contracting for two quarters in a row, the Indian economy grew by 0.4% in the October-December quarter amid the coronavirus pandemic, data from the Ministry of Statistics and Programme Implementation on Friday showed.

The GDP had expanded by 3.3% in the corresponding period of 2019-20, according to data released by the National Statistical Office (NSO).

In its second advance estimates of national accounts, the NSO has projected an 8% contraction in 2020-21. In its first advance estimates released in January, it had projected a contraction of 7.7% for the current fiscal as against a growth of 4% cent in 2019-20.

The economy had shrunk by an unprecedented 24.4% in the first quarter this fiscal following the coronavirus pandemic and resultant lockdowns. In the second quarter, the GDP declined 7.3% due to a perk up in economic activities.